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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Casey who wrote (10536)	4/24/1998 4:19:00 PM
From: PaulM	Respond to of 116764

Hi Casey. Little time to post during the day, but the ANOTHER poster states that the LBMA contracts representing claims on gold in London are in much greater supply than the gold they supposedly represent. So if a sudden desire on the part of longs to take delivery materializes, the resulting "liquidity crisis" would leave many traders holding nothing. So no more trading through LBMA. (i.e., what is LBMA "paper gold" worth at that point)? Not SO far fetched, when you consider that modern banking began with Medieval Goldsmiths realizing they could loan out more gold receipts than the physical they were storing. By "destroying the market" I of course didn't mean that human's would lose the motivation to trade some things for other things. Later.